The US markets ended sharply higher on Tuesday after the Trump administration backed off on imposing tariffs on some Chinese imports from September 1, following recent sharp falls in equity markets and ahead of a politically damaging rise in prices for consumer goods later this year on account of the proposed levies. Products that will not be subject tariffs from September include cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing. The delays mean that goods worth $152 billion, or more than half of the original $300 billion list, will now not be hit with tariffs until mid-December. A report of a de-escalation in the trade war overshadowed concerns about slowing economic growth and the potential for Beijing to crack down on protests in Hong Kong, one of Asia’s most important financial and trade hubs.
On the economic front, consumer prices in the US rose in line with economist estimates in the month of July, according to a report released by the Labor Department. The Labor Department said its consumer price index climbed by 0.3 percent in July after inching up by 0.1 percent in both May and June. Street had expected prices to rise by 0.3 percent. The faster price growth was partly due to a significant rebound in energy prices, which surged up by 1.3 percent in July after plunging by 2.3 percent in June. Meanwhile, food prices were unchanged for the second month in a row, as a decline in the food at home index was offset by an increase in the food away from home index. Excluding food and energy prices, core consumer prices rose by 0.3 percent for the second consecutive month, while Street had expected a 0.2 percent uptick.
Dow Jones Industrial Average rose 372.54 points or 1.44 percent to 26279.91, Nasdaq surged 152.95 points or 1.95 percent to 8016.36 and S&P 500 was up by 42.57 points or 1.48 percent to 2926.32.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: